The first three quarters after the 7/90-3/91 recession saw the following rates of GDP growth: 2.7%, 1.7% and 1.6%.
The first three quarters of after the 3/01-11/01 recession saw the following rates of GDP growth: 3.5%, 2.1% and 2%.
Assuming the NBER dates the end of the recession sometime at the end of last summer (which the St. Louis Fed's charts already do), we have the following quarterly GDP growth rates: 2.2%, 5.6% and 2.7%.
Notice the last two quarters of the recent recovery are already printing higher GDP growth rates than the other two recoveries. In other words, this recovery is printing stronger at the macro level than the last two.
Now consider the following employment charts:
After the 7/90-3/91 recession, initial unemployment claims were about 420,000 for over a year after the recession ended.
After the 2001 recession, initial unemployment claims remained above 400,000 over a year after the recession ended and spiked to a little below 440,000 almost a year and a half after the recession ended.
About a year after the latest recession ended, initial claims have dropped to the 440,000-480,000 area.
Now consider the following charts of the unemployment rate:
After the early 90s recession, the unemployment rate continued to increase over a year after the recession ended.
After the 2000 recession, the unemployment rate continued to increase over a year after the recession ended.
About a year after the recession ended, the unemployment rate is stagnant.
Here's the point of the above data.
1.) From a GDP growth rate perspective, this recovery has printed stronger than the last two recoveries at the same point in the recovery.
2.) Post-recovery employment has been a big problem for the last three recoveries.
